Comments from Bank of Canada governor Mark Carney:
- Canadian investment to stay below average, exports to stay very weak
- Sees residential investment declining further from historically high levels
- Sees signs of overbuilding and overvaluation in segments of Canadian housing
- BOC tightening bias has been in part to complement govt efforts to curb household debt
- Europe faces a decade of stagnation unless it undertakes sustained and significant reforms
- Europe can draw lessons from Japan on the danger of half-measures
